Exel Oyj - Changes board/management/auditors

Exel strengthens the management of Exel Sports Brands

EXEL OYJ		STOCK EXCHANGE RELEASE	5.11.2007	 at 14.00 1 (1)  

Exel strengthens the management of Exel Sports Brands

Exel Sports Brands (ESB) has since 2006 gone through substantial changes;
outsourcing of assembling of poles and floorball sticks to China, logistics in
Finland and move to new, from Exel Oyj independent, offices in Vantaa, Finland.
In addition a heavy downsizing of the German operation has taken place. The
experience from the outsourcing and logistics has not been satisfactory and the
sales have not developed as anticipated. It is therefore necessary to make a
turn around of the operation with the focus on concentrating sales and
restoring profitability by a.o. adjusting the organization to the new situation
as well as review the sourcing and logistic situation to better match the
market needs and to shorten lead times and to reduce overstocks. 

To make the necessary adjustments as efficient as possible Olli E. Juvonen has
been appointed CEO of Exel Sports Oy and Manager of the Sport Division as from
6 November 2007. Aki Karihtala's assignment as CEO of Exel Sports Oy expires on
the same date and a discussion concerning his next assignment is in progress. 

Juvonen has over 20 years' experience from running turn around projects as CEO
with success in similar situations. He has a degree from the Swedish School of
Economics and Business Administration in Helsinki. 

Vantaa, 5 November 2007 

Göran Jönsson
President and CEO


Further information:
Mr. Göran Jönsson, President & CEO, tel. +46 708 430 110, or email
goran.jonsson@exel.fi 
Mr. Ilkka Silvanto, CFO, tel. +358 50 598 9553, or email ilkka.silvanto@exel.fi


DISTRIBUTION
Helsinki Stock Exchange
Main news media
www.exel.net


Exel is a technology company which designs, manufactures and markets composite
profiles and tubes for industrial applications and sports equipment. Exel's
operations consist of two divisions: Exel Composites, the Industry Division of
Exel, and Exel Sports. 

The personnel's expertise and high level of technology play a major role in
Exel's operations. The core of the operations is based on own, internally
developed composite technology, product range based on it and the domination of
selected market segments with a strong quality and brand image. The company's
growth is based on permanent search of new applications and development in
co-operation with customers. Exel concentrates on niche segments and on
profitable growth. Exel's share is listed in the Mid Cap segment of the
Helsinki Stock Exchange's Nordic list.